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Regime: Mixed — VIX holding near 18.40 amid rising US real yields, capping risk appetite. Today’s market themes: Real-rate repricing: Fed nomination vote and PPI data set to dictate the pace of the climb, pressuring gold and growth stocks. Iran War Impact: Ongoing supply disruptions and inventory depletion boosting oil prices,…
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Where we are: The Dollar Index is currently hovering around 118.10, consolidating after its recent push to one-week highs. The overnight range has been relatively tight, and the DXY is holding above its prior New York close, underpinned by expectations of sustained higher interest rates. Key technical levels to watch include…
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Where we are: S&P 500 futures are trading near flat this morning, hovering around 5230, as we await key US data. The overnight range has been relatively contained, with limited volatility seen in early European trading. This level sits just below the prior NY close, suggesting a cautious tone ahead of…
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Where we are: Gold is trading near $4,700 an ounce as the New York session prepares to open, pressured by rising real yields. The precious metal failed to hold overnight gains following reports of increased Indian import tariffs. The move lower has broken intraday support at $4,710 and is now testing…
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Where we are: EUR/USD is trading around 1.0785, holding above overnight lows but below the prior NY close of 1.0800. The pair has traded in a tight range between 1.0770 and 1.0810 during the European session, showing limited directional conviction ahead of US data. Key support lies at 1.0750, while resistance…
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Where we are: Nasdaq 100 futures are trading near flat this morning, hovering around 19,650 after a mixed overnight session. The index remains close to record highs, fueled by continued enthusiasm for AI-related stocks, but is finding resistance as inflationary pressures resurface. This level puts it just above yesterday’s NY close,…
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Where we are: GBP/USD is trading around 1.2480, holding above the overnight low of 1.2465 but still below yesterday’s NY close near 1.2500. Sterling has been choppy, tracking swings in UK gilt yields amid heightened political jitters. Resistance lies at 1.2520, with support at the 1.2450 level. What’s driving it: Domestically,…
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Where we are: USD/JPY is trading at 158.15, grinding higher after a brief dip overnight. The pair is trading near the upper end of its recent range, a whisker away from testing prior intervention levels, and above yesterday’s NY close of 157.80. The path of least resistance remains higher, fuelled by…
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Where we are: Dow futures are currently down roughly 250 points, trading near 39,250. Overnight, the index has largely traded sideways after yesterday’s late rally, but now trades closer to session lows following the CNBC wholesale inflation print. The DJIA closed yesterday near 39,500, and a breach of 39,200 would open…
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Where we are: USD/CAD is currently trading around 1.3685, consolidating after a choppy overnight session. The pair remains above the 1.3650 level which has acted as key support recently, but struggles to break above 1.3700. This morning’s range has been relatively tight, and it sits just below yesterday’s NY close. What’s…
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Where we are: Bitcoin is currently trading around $62,850, holding steady after a volatile overnight session that saw it range between $62,000 and $63,500. This level is slightly below yesterday’s New York close, and BTC remains under pressure from the $64,000 resistance. Consolidation appears to be the theme as markets await…
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Where we are: The FTSE 100 currently trades around 8395, building on yesterday’s gains and extending its outperformance relative to European peers. The index is attempting to break above the 8400 level, which has acted as resistance recently. The overnight range has been relatively tight, but the bias is clearly to…
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Snapshot: AUD/USD hovers near $0.7200, pressured by growing expectations the RBA will need to ease policy sooner than previously anticipated. The Wage Price Index print at 11:30 AEST will be crucial; a miss to the downside would cement the dovish narrative. Positioning also suggests crowded longs. Watch for a break below…
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Snapshot: WTI crude is holding around $102, supported by the IEA’s report of a record draw in global oil inventories. Focus shifts to the 08:30 ET PPI release, which could influence risk sentiment and, indirectly, oil demand expectations. Positioning remains moderately long, but not at levels indicating imminent squeeze risk. Watch…
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Snapshot: The Nikkei 225 closed up 0.84% at 63,272, shrugging off Wall Street weakness overnight. Sustained demand for AI-linked stocks and strong corporate earnings continue to support the index. Nidec’s sharp fall is notable amid a generally positive corporate outlook. Watch for follow-through from Olympus’s strong earnings and buyback announcement; a…
